New Bremen, Ohio Property Taxes
The median property tax rate in New Bremen, OH is 1.33%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $203,000 in New Bremen, the typical annual property tax bill reaches $2,832, slightly above the national median of $2,690. Property taxes in New Bremen are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Bremen's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of New Bremen or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Bremen, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,700
$2,505
Ownwell’s New Bremen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Bremen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Bremen to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across New Bremen, Ohio
Property taxes in New Bremen, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Bremen is 1.33%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Bremen set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Bremen estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares New Bremen's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45869 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with New Bremen provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Bremen Tax Rate
1.33%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | 1.20% | 1.30% | 1.33% | 1.40% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across New Bremen, Ohio
In New Bremen, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Mercer County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In New Bremen, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in New Bremen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $203,000 with tax bills ranging from $1,983 at the 25th percentile to $4,661 at the 90th percentile. The highest and lowest median tax bills are both $2,832 in the 45869 zip code.
Average New Bremen Assessed Value
$203,000
Average Mercer County Assessed Value
$129,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | $127,500 | $143,150 | $203,000 | $260,550 | $327,720 |
Source: Ownwell
Property Tax Bills Across New Bremen, Ohio
In New Bremen, located in Mercer County, OH, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in New Bremen, the median home price is $203,000. Property tax bills in this area can vary significantly, with the 25th percentile of tax bills at $1,983 and the 75th percentile at $3,710, indicating a range of what homeowners might expect to pay. The highest median tax bill in the area is $2,832, which is below the national median property tax rate of 0.99%. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Understanding how these factors influence property tax bills can help homeowners better manage their finances and anticipate future expenses.
Average New Bremen Tax Bill
$2,832
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | $1,361 | $1,983 | $2,832 | $3,710 | $4,661 |
Source: Ownwell